Valero Energy Corporation $VLO Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has reduced its stake in Valero Energy Corporation by 4.4%, holding shares valued at approximately $13.10 million as per its latest SEC filing.
• Valero Energy recently reported earnings of $2.28 EPS, significantly surpassing analyst expectations of $1.66, with revenue totaling $29.89 billion.
• The company declared a quarterly dividend of $1.13 per share, amounting to an annual yield of 3.3%, with a high dividend payout ratio currently at 188.33%.

Banco Bilbao Vizcaya Argentaria S.A. reduced its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,210 shares of the oil and gas company's stock after selling 4,579 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Valero Energy were worth $13,104,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Groupama Asset Managment boosted its holdings in shares of Valero Energy by 6.0% in the first quarter. Groupama Asset Managment now owns 142,745 shares of the oil and gas company's stock valued at $18,768,000 after acquiring an additional 8,097 shares during the period. HITE Hedge Asset Management LLC boosted its holdings in shares of Valero Energy by 38.5% in the first quarter. HITE Hedge Asset Management LLC now owns 53,662 shares of the oil and gas company's stock valued at $7,087,000 after acquiring an additional 14,916 shares during the period. Cornerstone Select Advisors LLC boosted its holdings in shares of Valero Energy by 1.5% in the first quarter. Cornerstone Select Advisors LLC now owns 10,338 shares of the oil and gas company's stock valued at $1,365,000 after acquiring an additional 150 shares during the period. Korea Investment CORP boosted its holdings in shares of Valero Energy by 16.0% in the first quarter. Korea Investment CORP now owns 291,974 shares of the oil and gas company's stock valued at $38,561,000 after acquiring an additional 40,205 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in shares of Valero Energy by 2.8% in the first quarter. Raymond James Financial Inc. now owns 1,110,913 shares of the oil and gas company's stock valued at $146,718,000 after acquiring an additional 30,328 shares during the period. 78.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VLO shares. Barclays upped their price target on Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. The Goldman Sachs Group upgraded Valero Energy from a "neutral" rating to a "buy" rating and upped their price target for the stock from $127.00 to $154.00 in a research note on Tuesday, May 13th. Wolfe Research cut Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. cut their price target on Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Finally, TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and upped their price target for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $154.47.

Valero Energy Price Performance

Shares of Valero Energy stock traded up $4.9090 on Friday, hitting $145.1990. The company's stock had a trading volume of 2,106,347 shares, compared to its average volume of 2,432,003. The company has a market capitalization of $45.11 billion, a P/E ratio of 60.50, a price-to-earnings-growth ratio of 3.28 and a beta of 1.03. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $155.12. The firm has a fifty day moving average price of $140.59 and a 200-day moving average price of $130.93. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO - Get Free Report) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. During the same period last year, the firm posted $2.71 EPS. The firm's revenue for the quarter was down 13.3% on a year-over-year basis. On average, equities research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be paid a $1.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a yield of 3.1%. Valero Energy's dividend payout ratio is presently 188.33%.

Valero Energy Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.